Bank of America Sends $30,000 Social Security Payment to Wrong Account

Filed in Uncategorized by on July 14, 2011 0 Comments

The mistake has been corrected, but it took longer than relatives of Robert Weber expected. Weber, 88, had been a customer of Bank of America (B.A.C.) for nearly 60 years, and their lethargy cost them a valuable customer.

Same Account Number Issued Twice

The $30,000.00 mistake occurred when Bank of America issued two account numbers to the same person. Weber had received social security checks. He was in fragile health when his grandson discovered something was amiss. He pleaded with B.A.C. to investigate the issue, but apparently, they dismissed the seriousness of what he had discovered.

bank of america

As a matter of fact, as reported by the L.A. Times, the grandson, David Madden, never received a solid explanation of how the mistake occurred and what measures were being implemented to make sure it would not happen again.

Weber’s social security checks were going to another customer for nearly two years. Sadly, the customer, Claudia Moralez, spent the money as she was receiving the monthly deposits. Perhaps shocking, Betty Riess, a B.A.C. spokeswoman, mentioned the incident occurs frequently.

Incident is not Uncommon

Mistakes do happen, which makes you wonder, exactly how many customers of B.A.C. wind up with someone else’s money? Just the other day it was reported Bank of America foreclosed on the wrong person.

Weber was eventually made whole, but at 88, his grandson didn’t want to take any more chances of inadvertent mistakes, so he closed the account. Moralez was nabbed by the sheriff’s department, and the case was turned over to the District Attorney. She pleaded guilty and spent 90 days in jail, and was ordered to pay the $30,000 back to Social Security and $4,000 restitution to Weber.

No Solid Explanation Provided

Surprisingly, Riess did not give an explanation why taxpayers repaid Weber via Social Security, yet they have not reimbursed the agency.

Photo courtesy of Mark Holloway, Wikipedia

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My professional background is in the Real Estate industry, with emphasis in the mortgage sector, having achieved Subject Matter Expert (S.M.E.) statusI am a free-lance writer for mortgage publications and provide online content for the real estat

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